Gantry has secured a $22-million permanent loan to refinance the construction loan for Fireside Flats Apartments located at 841 NE 68th St. in Seattle’s Roosevelt neighborhood. Mike Wood and Alex Saunders of Gantry obtained the loan on behalf of a private real estate entity.
The 10-year, fixed rate loan was provided by one of Gantry’s correspondent life company lenders with an attractive rate for long-term hold despite volatility in capital markets this season. According to Wood, “Our correspondent life companies understand multifamily, have an appetite for quality projects and are actively pursuing new originations at attractive fixed rates even as bank lenders pull back from their lending programs.”
Completed in 2022, Fireside Flats is a six-story building offering 102 modern units with one or two bedroom floorplans along with underground parking and amenities such as fitness center and rooftop deck lounge area.
